I think the Index Futures markets are just about ready to enter the 'Strongly Trending' mode on the larger timeframe charts (Daily & Weekly). Retracements are normally very shallow in such an environment.
S&P (SPH7) and EMINI (ESH7) March 07
Today's OMNI direction is HIGHER
BUY LONG AREA = 1455.50 / 1453.50
I would no longer advocate a long position if we trade below 1450.00 X.
Take profit at the 1469.00 / 1471.00 area or exit by the close.
NOTE: This market will likely encounter strong resistance as it rises into the
146100/1462.00 level which will likely be pushed through over the near term.